Kent-based Crimson Tide secures major retail contract

Crimson Tide has announced that it has won a new three-year contract with an existing retail client for its mpro5 smart app solution.

The Tunbridge Wells-based software developer said the new deal is worth £1m per year, more than double its current annual recurring revenue under the previous contract.

The mpro5 app is a field service management software platform and service, used across industries in over 260,000 sites ranging from hospitals to train stations.

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Crimson noted its relationship with the client exceeds 10 years at the end of the new contractual term.

Crimson Tide chair Barrie Whipp said: "The expansion of use cases for our platform and associated long-term contracted revenue go hand in hand. We continue to add high quality, contracted annual recurring revenue as we increasingly expand our footprint by sector and internationally."

Caption: Crimson Tide has secured a major retail contact. Credit: Crimson Tide